Nook uses a different flavour of DRM. You can remove the DRM and add them on. You can read any non-drm epubs as well as the drm that Sony and many other sellers use (but not iBook, which also uses its own drm).
When you purchase a book from Kobo, you have the choice of their own ePUB format (kepub) which is the only book format that currently syncs across their other platforms or, in most cases, Adobe Adept DRM, which you download through ADE and sideload.
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